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June hogs closed down $3.13 at $101.57.

June hogs closed sharply lower on Friday and below the 20-day moving average crossing at $104.91 signaling that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the 50-day moving average crossing at $98.73 is the next downside target. If June renews the rally off November's low, the 75% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $110.53 is the next upside target. First resistance is Monday's high crossing at $110.08. Second resistance is the 75% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $110.53. First support is the 50-day moving average crossing at $98.73. Second support is the March 22nd low crossing at $97.62.

June cattle closed down $0.35 at $119.30.

June cattle closed lower on Friday as it extended the decline off April's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that a short-term top might be in or is near. If June extends the aforementioned decline, the March 19th low crossing at $118.10 is the next downside target. Closes above the 10-day moving average crossing at $122.40 would signal that a short-term low has been posted. First resistance is April's high crossing at $125.63. Second resistance is weekly resistance crossing at $127.90. First support is the March 19th low crossing at $118.10. Second support is March's low crossing at $116.42.

May Feeder cattle closed down $1.03 at $143.40.

May Feeder cattle closed lower on Friday as it extended the decline off April's high. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If May extends the aforementioned decline, March's low crossing at $141.65 is the next downside target. Closes above the 10-day moving average crossing at $148.78 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $148.78. Second resistance is the March 30th high crossing at $153.48. First support is today's low crossing at $143.03. Second support is Monday's low crossing at $141.65.